India: Inflation inches up from nine-month low in March
April 15, 2014
The wholesale price index (WPI) increased 0.50% over the previous month in March. The reading, which contrasted the 0.11% decrease observed in February (previously reported: 0.0% month-on-month), came on the back of an across-the-board rise, with prices for primary products registering the strongest increases.
Wholesale prices increased 5.7% over the same month last year in March and came in above market expectations of a 5.3% rise. In addition, March's result was higher than the 4.7% rise observed in February, which had marked the lowest rate in nine months. Despite the increase in the annual figure, annual average WPI inflation remained at February's 5.9% in March.
The consumer price index increased 0.58% over the previous month in March, which contrasted the 0.07% fall recorded in February (previously reported: 0.0% mom). Annual inflation increased from 8.0% in February to 8.3% in March.
FocusEconomics Consensus Forecast panelists expect wholesale price inflation to average 5.8% in FY 2014/2015, which is unchanged from last month's forecast. In FY 2015/2016, the panel expects wholesale price inflation to average 5.7%.